NRW.Bank is the development bank of the German state of North Rhine-Westphalia. It provides loans, financing and advisory services to support the state in achieving its structural and economic policy tasks in North Rhine-Westphalia. It has a public mission and does not focus on maximising profits. These promotional tasks are divided in four segments: Economic Development, Social Housing, Infrastructure and Municipalities, Public Finance. The clients of NRW.BANK benefit from favourable conditions as well as from long maturities and fixed interest periods. The bank has been founded in 2004 when the Landesbank Nordrhein-Westfalen was reorganised into NRW.Bank. The bank is headquartered in Dusseldorf and has 1,428 employees.
The proceeds of this green bond are used to finance projects that focus on both climate mitigation and climate adaptation. The projects are in the following categories: green buildings (43% of proceeds), renewable energy (26%), clean transportation (25%), energy efficiency (6%), river restoration (16%). These projects contribute to reduced emissions and improved biodiversity in North Rhine-Westphalia through better energy efficiency in buildings, more renewable energy generation, electric public transport, and a restored river. It has been calculated that the projects will avoid GHG emissions of 1.3 million tonnes of CO2 equivalents over the 10-year term of the bond.